The UK GDP data

Preliminary data on UK GDP unexpectedly slowed down the decline in the third quarter, which led to an increase in optimism about the British currency. For more information about the news, please refer to https://esterholdings.com/en/category/mneniya-ekspertov/

As a result of the appreciable strengthening of the pound, the GBP/USD pair broke off from the support level of 1.3100 and resumed growth, thereby confirming the overall uptrend in the pair. But, given the general weakness of the British economy and the existing model of the pair’s movement, the upward dynamics of this pair will be limited by the zone 1.3170-80. The breakthrough of this level will open the way to the levels: 1.3200-20 and 1.3240, which is very likely. This movement will be confirmed by the formation of the lateral triangle on D1. The support levels are: 1.3130-40 and 1.3100.

Hanzenko Anton